A former Asheville businessman plans to appeal his conviction on charges that he ran a Ponzi scheme that cheated investors out of more than $13 million.The Asheville Citizen-Times reported that 65-year-old James W. Bailey Jr. has filed notice of appeal.Bailey was sentenced to 32 years in a prison after he pleaded guilty last week in U.S. District Court to securities fraud, mail fraud and filing false tax returns.U.S. District Judge Martin Reidinger said he gave Bailey a longer sentence than guidelines called before because of the harm to Bailey's victims and his lavish lifestyle financed by his crimes.A hearing is scheduled next month to determine how much investors might get back.Prosecutors said Bailey's scheme collapsed in 2010 when he bounced checks.

ASHEVILLE, N.C. —

A former Asheville businessman plans to appeal his conviction on charges that he ran a Ponzi scheme that cheated investors out of more than $13 million.